Hedge Funds Rack Up Big Returns in 2020 With Some Familiar Names
In fact, hedge funds had their best year since 2001, beating the S&P 500 by 20 points. The most popular holdings of 814 funds included, Facebook, Microsoft, and Alphabet. · 1h ago
House to consider measure next week that could banish Chinese stocks from U.S. that don't comply with audit rules
House members could vote as early as Wednesday to boot Chinese companies with shares on U.S. exchanges if they don't adhere to audit-oversight rules....
MarketWatch · 2h ago
Alibaba and Tencent Have Put Talks To Buy iQIYI Stake On Hold Due To Price Regulatory Concerns
Reuters · 11h ago
Stocks making the biggest moves in the premarket: AstraZeneca, Disney, Pfizer, Amazon & more
The stocks making the biggest moves in premarket trading include AstraZeneca, Disney, Pfizer, Amazon, and more. · 12h ago
Alibaba, Tencent hold off iQIYI buyout plans due to price, regulatory concerns - Reuters
Alibaba Group (BABA) and Tencent (TCEHY) each have held separate talks with Baidu (BIDU) to acquire a controlling stake in video streaming service iQIYI (IQ), source Reuters.But the discussions have
Seekingalpha · 14h ago
SAIC Motor, an early adopter of the smart car, sets up US$1 billion fund to invest in internet-linked vehicles with Alibaba
SAIC Motor, China's largest state-owned carmaker and the Chinese partner of General Motors, has established a private equity fund to finance its forays into developing smart cars with the country's biggest technology company Alibaba Group Holding.SAIC Motor would invest 5.4 billion yuan to create the 7.2 billion yuan (US$1 billion) fund with Shanghai Zhangjiang Hi-tech Park Development, according to an exchange filing. Hengxu Capital, a fund of funds platform under the carmaker's SAIC Capital unit, will separately contribute less than 0.1 per cent of the fund's capital, used in a collaboration with Alibaba (China) Network Technology to invest in smart electric vehicle technologies."SAIC's investment plan and its collaboration with Alibaba add evidence to China's ambition of taking the global lead in the development of smart vehicles," said Gao Shen, a Shanghai-based independent analyst on the manufacturing industry. "A marriage between conventional carmakers and technology behemoth will prove to be effective."Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China.With the world's largest market for automobiles since 2009, China is aiming to have more electric vehicles on the nation's roads than anywhere else, and has poured tens of billions of yuan in subsidies, incentives and tax breaks into nurturing the development of vehicles powered by alternative fuels. Smart cars, or vehicles that use high-speed internet connectivity for navigation, in-car information and entertainment, also form a technological goal sought by policymakers.Pedestrians outside Alibaba Group Holding's building in Beijing on August 19, 2020. Photo: Bloomberg alt=Pedestrians outside Alibaba Group Holding's building in Beijing on August 19, 2020. Photo: BloombergHundreds of technology companies from the biggest giants like this newspaper's owner Alibaba Group Holding and the dominant internet search engine Baidu to start-ups are engaged in developing applications and hardware for the next generation of vehicles and redefine mobility.Electric vehicle makes like LiAuto, Nio and Xpeng Motors are racing to churn out models that can challenge Tesla's Model 3 sedan, the current market leader in the premium segment of China's new-energy vehicle market.Hundreds of Baojun E100 electric vehicles in the parking lot of the SAIC-GM-Wuling Automobile plan in Liuzhou city of Guangxi province on May 23, 2018. Photo: Bloomberg alt=Hundreds of Baojun E100 electric vehicles in the parking lot of the SAIC-GM-Wuling Automobile plan in Liuzhou city of Guangxi province on May 23, 2018. Photo: BloombergSmart technology is one area that Chinese companies can capitalise on to surpass Tesla, as local engineers and developers understand traffic conditions and drivers' habits better than the US rival, according to Xpeng's president Brian Gu.Alibaba began working with SAIC to develop internet-connected cars in 2016. Some of SAIC's Roewe sports-utility vehicles run on Alibaba's smart technology YunOS, featuring intelligent digital map, voice control, action cameras and internet ID.Based in Alibaba's hometown of Hangzhou in Zhejiang province, Alibaba (China) Network's main business is the research and sale of computer network software and related consultancy services, according to Chinese private equity data provider PEdaily.A Baojun E100 electric vehicle plugged in to a charging station outside a SAIC-GM-Wuling Automobile Customer Experience Center in Liuzhou city of Guangxi province on May 23, 2018. Photo: Bloomberg alt=A Baojun E100 electric vehicle plugged in to a charging station outside a SAIC-GM-Wuling Automobile Customer Experience Center in Liuzhou city of Guangxi province on May 23, 2018. Photo: BloombergSAIC surged 8.5 per cent to 27.08 yuan on the Shanghai Stock Exchange, while Zhangjiang jumped by the 10 per cent daily limit to 19.36 yuan."The investment will expedite the self-innovation capability and transformation of the auto industry, relying upon the competitiveness of the respective partners in this fund in the areas of artificial intelligence; autonomous driving, chips and new energy vehicle," SAIC Motor said.SAIC Motor's brand competitiveness will also be enhanced, it said in the exchange filing, as the automaker's own technological upgrade will also be advanced through the building of an ecosystem for new energy car, and intelligent connected vehicles.China is focusing on the development of internet connected cars as it holds the prospects for a "new era" for cars. The country is expected to be home to a 100 billion yuan market for intelligent connected vehicles by 2020, Industry and Information Technology Minister Miao Wei told an industry conference in October 2018.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2020 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2020. South China Morning Post Publishers Ltd. All rights reserved.
South China Morning Post · 15h ago
Exclusive: Alibaba, Tencent put talks to buy iQIYI stake on hold due to price, regulatory concerns: sources
Alibaba Group Holding Ltd and Tencent Holdings Ltd have each held separate talks with Baidu Inc to acquire a controlling stake in video streaming service iQIYI Inc, people with knowledge of the matter told Reuters. Another Chinese tech giant, TikTok owner ByteDance has also internally looked at the possibility of acquiring a controlling stake in iQIYI, three sources said.
Reuters · 16h ago
Alibaba vies for a piece of China's booming EV market
Companies from Alibaba to Huawei are striving to become relevant in the trillion-dollar auto industry, which itself is seeking an electric transition and intelligent upgrade as 5G comes of age. State-owned automaker SAIC Motor, a major player in China, unveiled this week a new electric vehicle arm called Zhiji, in which Alibaba and a Shanghai government-backed entity are minority shareholders. Alibaba's ties with SAIC can be traced back to 2015 when they jointly announced a $160 million investment in internet-connected cars.
TechCrunch · 21h ago
Huawei Founder Says Phone Unit Sale Will Free It From U.S. Curbs
(Bloomberg) -- Huawei Technologies Co. founder Ren Zhengfei called the sale of its Honor budget smartphone division a “clean break” that should free it from U.S. restrictions and create a new powerhouse in the world’s largest mobile arena.Ren, blasting Trump administration tactics to contain his company, assured employees in a memo Honor will rapidly resume production after regaining access to American circuitry and software. His missive comes days after Huawei unveiled a deal to sell the business to a consortium of more than 30 Chinese corporations, assembled by government-backed Shenzhen Smart City Technology Development Group Co.“Facing wave upon wave of attacks from the U.S., we finally realized that American officials weren’t trying to fix us. They were seeking to kill us,” Ren said. “Once we’re divorced, there’ll no longer be any under-the-table relations with Honor. We’re handling the separation in an adult manner, and will rigorously adhere to regulations and international norms.”Huawei’s leader appeared to be addressing uncertainty over whether the spinoff will trigger a resumption of American chip supply to Honor under new ownership or if there’re U.S. regulatory steps required first.Citing national security concerns, the U.S. has waged a far-ranging campaign against Huawei since 2018 that landed its chief financial officer under house arrest in Canada and fomented bans against the use of the company’s 5G equipment in countries from the U.K. to Japan. The final blow came when the White House enacted sweeping restrictions against suppliers this year, closing off loopholes that let Huawei procure ready-made semiconductors to keep its consumer business afloat.Read more: Huawei Sells Budget Phone Brand After U.S. Cuts Chip SupplyHonor was an integral part of Huawei’s smartphone business, once larger than Samsung Electronics Co.’s but now struggling to secure enough crucial components and software for production. Access to American technology will breathe new life into a brand that’s gained popularity among younger budget-conscious users in recent years and made headway in overseas markets like Europe. It could create a rival to the likes of Xiaomi Corp. and Oppo, who compete in the same price segments.The sale illustrated the uneven impact of White House sanctions on China’s largest technology company, whose consumer business is ailing even as its networking unit soldiers on. Shenzhen-based Huawei is said to have safeguarded its core telecom equipment business by stockpiling critical components to continue supplying its home country’s 5G rollout through at least 2021.Honor’s new owners include local city-backed corporations such as Shenzhen Expressway and Shenzhen Energy. It can also lean on Co., the country’s largest electronics chain backed by Alibaba Group Holding Ltd., to help enhance distribution.“Under its new leadership, Honor will very quickly resume production and resolve issues affecting its upstream and downstream partners,” Ren said in his memo. “The U.S. is a technology superpower that has many excellent companies. You should firmly and boldly work with them.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Bloomberg · 22h ago
The Amazon of Africa is trying to enable third-party e-commerce rather than sell more stuff
Jumia is now mainly focused on enabling e-commerce in Africa
Quartz · 1d ago
Ant Group explores capital injections amid fintech crackdown
Ant Group, a third owned by Alibaba (BABA), is in talks with regulators about injecting capital into its micro-lending units just weeks after its $35B IPO was halted in a
Seekingalpha · 1d ago
China is an opportunity for India — not a threat, Beijing says as more apps are banned
India has blocked to-date 220 Chinese mobile apps, some of them made by China's prominent consumer-facing tech companies like ByteDance, Tencent and Alibaba. · 1d ago
Black Friday Will Be Great for Shoppers. It Wont Matter Much for Retail Stocks.
Whatever Black Friday may bring, it seems likely that the biggest retailers will continue to do so through the holidays. · 2d ago
Digital Advertisement market to reach $626B by 2026 - UnivDatos
As the digital advertisement has become an indispensable tool for publishers, ad tech vendors and ad agencies, digital advertising continues to significantly grow Y/Y on an annual revenue basis, with total
Seekingalpha · 2d ago
Ignore the Ant IPO Debacle and Load up on Alibaba Shares
InvestorPlace · 2d ago
Apple's iPhone 12 temporarily delayed, Alibaba apps banned as India-China tensions continue
According to Reuters industry sources, applications to he Bureau of Indian Standards, which is in charge of quality control clearances for goods entering the region, has slowed its processing times
Seekingalpha · 2d ago
China Tech Companies To Remain 'Very Much A Growth Play' Even Post-COVID-19, Says Credit Suisse
Credit Suisse Group AG (NYSE: CS) expressed an optimistic view of Chinese tech stocks’ growth potential over the next year.
Benzinga · 2d ago
Alibaba Stock Woes Wont Last, So Stay Long in the Shares Into 2021
Not too long ago, Alibaba (NYSE:BABA) stock was a fan favorite on Wall Street. It has fallen out of favor of late, mostly its own doing. Source: zhu difeng / It is rare that management commits unforced errors, so the reaction in Alibaba stock was violent. They paid dearly for what was a lapse in judgment by its former CEO and co-founder, Jack Ma, who criticized the Chinese system. This unleashed swift retaliation from the state. BABA equity holders suffered a lot due to no fault of their own either. Luckily this dip creates new opportunities. Investors have for months anticipated the arrival of the largest initial public offering by ANT Financial. Alibaba owns a one-third interest in it so it was due for a big payday from that. Then, without much warning, earlier this month we learned that they canceled the IPO indefinitely. Moreover it turns out that it was under orders from President Xi of China.InvestorPlace - Stock Market News, Stock Advice & Trading Tips It’s never a good idea to antagonize someone who completely controls the future of your company. Even though Mr. Ma is no longer on active duty, Alibaba stock lost 20% of its value quickly. First on the ANT headline then on subsequent disappointments from earnings. Alibaba Stock Story Has a Happy Ending Putting the recent skirmishes with the Chinese government aside, the fundamental story behind Alibaba stock has never been better. Singles Day broke records again this year. There’s nothing broken with the company itself; the stock is just in temporary purgatory. The selling came from fears of more actions from by Beijing and knee-jerk reactions to lofty expectations. Fundamentally it still has a relatively low price-earnings multiple of 30x, and the price-to-sales is only 8x. This is in line with most other giga-caps in the U.S. Only Amazon (NASDAQ:AMZN) has a much lower price-to-sales ratio. Apple (NASDAQ:AAPL), Alphabet (NASDAQ:GOOGL,NASDAQ:GOOG) and Facebook (NASDAQ:FB) all are in line with Alibaba stock give or take. 10 Best Stocks to Buy for Investors Under 30 There’s no telling what the face off with China will do to the bullish thesis short term. My assumption is that there will not likely be sustained long-term consequences. We can only trade the current financials without speculating on future actions. So far the company has executed on plans flawlessly and Wall Street had adopted it as one of its own. Last year U.S. regulators targeted Chinese IPOs but not to stop the likes of Alibaba stock from listing here. The goal was to avoid having another situation like Lukin Coffee (OTCMKTS:LKNCY). At first it looked like it was the Starbucks (NASDAQ:SBUX) slayer in China, but it turned out to be a complete fraud. Investors here and abroad lost a bundle on that. In contrast, the Alibaba fundamentals are as healthy as ever and bring no reason for the bears to short it. The upside potential in BABA stock is definitely more substantial than the risk below. If the intent is to hold the shares a long time, then this is as good a time as any to start. This too shall pass. Although this may not be a perfect bottom floor but it’s clearly not a flagrant mistake. Good Fundamentals Still Matter Click to EnlargeSource: Charts by TradingView The fundamentals are strong and the technicals support that message. It just corrected 20% and fast, so a lot of the weak hands fell off already. What’s left are a bunch of investors who have better conviction. This is how rallies in good stocks gain footing. Year-to-date Alibaba stock is still up 27% only slightly lagging the NASDAQ Composite index. Clearly this is not a result to mourn. Those who felt they missed it on the first go-around when it hit $320 last month should consider this a gift. This is a second chance at something that already happened once and will happen again. There are extrinsic risks from the entire stock market. The macro-conditions have not yet improved but the sentiment has recovered too well. This is purely on the back of three headlines from Pfizer (NYSE:PFE), Moderna (NASDAQ:MRNA), and AstraZeneca (NASDAQ:AZN). All three have announced incredible efficacy of their vaccines against the Covid-19 virus. People are eager for this to become a reality and maybe too eager at that. This may have built up system-wide froth in the stock prices. If there is a letdown from that sugar high then there is downside risk from that wave in Alibaba stock. Left alone, I bet this company will continue to flourish and execute on plans the way it has been. Follow the Froth The path upward is definitely easier than the one that leads to disaster. Markets are buying frothy companies in droves. This is an indication that the good ones will also follow eventually. There is no real fear on Wall Street. Otherwise they wouldn’t be buying up perceived froth 10% on a day when the NASDAQ is down 1%. The VIX is no longer an effective measurement of fear. This is like the CPI trying to measure current inflation . We all know it’s there, yet for some reason the measuring stick is broken. Caution is a good idea but is not a reason to short Alibaba stock. On the date of publication, Nicolas Chahine did not have (either directly or indirectly) any positions in the securities mentioned in this article.  Nicolas Chahine is the managing director of More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner Radical New Battery Could Dismantle Oil Markets The post Alibaba Stock Woes Won’t Last, So Stay Long in the Shares Into 2021 appeared first on InvestorPlace.
InvestorPlace · 2d ago
Credit Suisse says regulatory risks are unlikely to stop China's tech companies from growing in 2021
Credit Suisse predicted China will record 2.2% growth for 2020, followed by a sharp jump to 7.1% in 2021. · 2d ago
Alibaba Apps Get India Ax In Latest Anti-China Crackdown
Alibaba Group Holding Ltd’s (NYSE: BABA) online shopping apps, alongside 43 other Chinese apps, have been blocked in India, Bloomberg
Benzinga · 2d ago
Webull provides a variety of real-time BABA stock news. You can receive the latest news about Alibaba through multiple platforms. This information may help you make smarter investment decisions.
About BABA
ALIBABA GROUP HOLDING LIMITED is a holding company that provides the technology infrastructure and marketing reach to help merchants, brands and other businesses to leverage the power of new technology to engage with users and customers to operate. The Company operates four business segments. The Core Commerce segment provides China retail, China wholesale, International retail, International wholesale, Cainiao logistics services and local consumer services through Taobao Marketplace and Tmall. The Cloud Computing segment provides complete suite of cloud services, including database, storage, network virtualization services, big data analytics and others. The Digital Media and Entertainment segment provides consumer services beyond the core business operations. The Innovation Initiatives and Others segment is to innovate and deliver new services and products.